Head of planning

By Dave Eadevic
June 14 2014

Earlier in the week, I was involved in a conversation, where the other participant, stated that we should spend as little as possible, of the reported 60 million war chest, and let the rest go towards paying off the ‘loan’ Ashley made to himself.

Hopefully the thinking went, once we get that paid back, we can find a buyer for what the club is actually worth and be finally rid of the cancer that pervades our great club.

But really what difference will it make?

1^st, you have to accept that if the loan is interest free, then surely the advertising revenue he has used for his sports firm, should of more than paid it back by now.

2^nd It has been stated that it is not interest free, the actually interest is in the shape of the afore mentioned advertising revenue. This then is the equivalent of running up a huge debt on a credit card and paying the minimum each month.

Truth is, they don’t want it paid back, they are a lot happier getting the interest, and I would imagine so is Ash.

Then of course there is the amount of money actually mentioned 60 million.

Well to my maths, there was 60 million given off sky last season, 80 million this season, 20 million from the Cabaye sale, which appears to come to 160 million, not 60.

So where has the rest of it disappeared to?

I mean to that you have to add in gate receipts, and what small bit of revenue still brought in from advertising, so even if you take wages and operating costs ect, out of the equation, should still leave at the very minimum double the 60 million.

However we are told, we don’t even have 60 million what we have is far less.

So where is the balance actually going?

With that you unfortunately have to conclude, that under the current regime, investment in the side, will remain just good enough to avoid relegation and keep the sky TV money rolling in.

No cup runs, no ambition in short nothing.

So really what difference does it make how much money we reportedly have?

Why it makes no difference how much money we have.

Discussion started by TyneTalk (IP Logged), 14/06/2014 10:09

TyneTalk
14/06/2014 10:09

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swamprocker
14/06/2014 10:43

TOTALLY AGREE WITH THE ARTICLE AND IM SORRY TO SAY THAT THE ONLY WAY WE WILL GET RID OF THAT FAT BARROW BOY OF AN OWNER AND HIS INEPT COACH IS IF WE GOT RELEGATED AND SPENT A COUPLE OF SEASONS IN THE CHAMIONSHIP!!!!!!!!!

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Shagrack
14/06/2014 10:47

First off Mr Ashely can go sign for his 30miilion interest free loan. When he took over at NUFC his business was worth an estimated £250 million. Today thanks to NUFC it is worth 3.3billion. secondly he has spent VERY little over the past 2 years therefore claiming interest on money earned from the club probably in the region of £10million. As far as I am concerned he should whistle and spend 60million PLUS cos lets face the shite we have on the books at the club NEED to be replaced

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Kev1664
14/06/2014 11:37

The actual profit from this season should be £71,550,000.

£79,450,000 ish from 10th and TV.
£17,000,000 Commercial
£24,000,000 matchday
£16,000,000 Up front for cabaye (I believe £4million was add ons)
Total revenue - £136,550,000 million
less
£65,000,000 Wage Bill

You say there was £60million from TV last year, but after player trading in December 2012 we only made an operating profit of £9.9 million.


Financial results 2013

We should have £80,000,000 cash to buy players / payback the loan. We won't use anywhere near the £80 million. However he won't want to pay much off the loan because he has the free advertising, what will probably happen is Ashely will take £20 million out of the club as a bonus, like hes trying with sports direct.

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porciestreet
14/06/2014 11:58

We Need "The Wasp".
The young lady from "The girl with the Dragon Tattoo". Someone who can hack his accounts and skint the little fat grasping Barra-lad. Give it all to Cancer Relief.

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davenufc
14/06/2014 13:50

We may of 'only' made a 9.9 million profit, but where has the balance actually gone?

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